Error: String reference not set to an instance of a String. Parameter name: s

Dear Colleagues,

I have a problem with SDL Studio 2019. I used trial version for about 20 days, then tried to activate my license (upgraded from Studio 2017), and it returns this error after I select 5 languages. Looks like the error is not with SDL. I tried several options, re-installed several times, deleted previous SDL version folders in Roaming, AppData etc. Nothing helped.

I tried both SDLTradosStudio2019_SR2_15.2.7.2849.exe and SDLTradosStudio2019_SR2_15.2.6.2831.exe (just for the experiment sake)

Attaching below the error xml.

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<SDLErrorDetails time="17.08.2020 10:15:11">
<ErrorMessage>String reference not set to an instance of a String.
Parameter name: s</ErrorMessage>
<Exception>
<Type>System.ArgumentNullException, mscorlib, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089</Type>
<ParamName>s</ParamName>
<HelpLink />
<Source>mscorlib</Source>
<HResult>-2147467261</HResult>
<StackTrace><![CDATA[ at System.Text.Encoding.GetBytes(String s)
at Sdl.TranslationStudio.Common.Licencing.FreelanceSelections.set_ConfiguredLanguages(List`1 value)
at Sdl.TranslationStudio.Common.SetupWizard.LanguageChoiceWizardPageControl.UpdateData()
at Sdl.TranslationStudio.Common.SetupWizard.LanguageChoiceWizardPage.OnNext()
at Sdl.Desktop.Platform.Wizard.AbstractInternalWizardPage`1.OnFinish()
at Sdl.Desktop.Platform.Wizard.AbstractWizard`1.Finish()
at Sdl.Desktop.Platform.Wizard.AbstractWizard`1._form_Finish(Object sender, CancelEventArgs e)
at Sdl.Desktop.Platform.WPF.ViewModel.WPFWizardFormViewModel`1.Execute_FinishCommand()
at Sdl.Desktop.Platform.MVVM.DelegateCommand.<>c__DisplayClass1_0.<.ctor>b__0(Object x)
at Sdl.Desktop.Platform.MVVM.DelegateCommand`1.Execute(Object parameter)
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Thanks in advance,

Georgy